Corporation tax in Costa Rica May 2017.
The annual corporation law is back. (Ley de Impuesto a las personas Juridicas)
WHEN TO PAY THE CORPORATION TAX?
In 2017, you will have to pay it starting on the first of July 2017.
In 2018, you will have to pay it before January 30th.
WHERE TO PAY IT?
Hacienda is now in charge of this tax. You may pay it at Banco de Costa Rica, with your cedula juridica number ( 3-101——-), and also on line through your personal banking.
HOW MUCH IS IT?
Inactive Corporation (usually used to hold your real estate) will have to pay around $123 per year or 63,930 colones. Price will vary as it is based on 15% of a salary of a government employee).
Active Corporation (Working corporation paying income taxes) will pay a tax based on its gross wages:
• Under gross wages of 50,000,000 colones the tax will be 106,550 colones so around $190 per year.
• With gross wages between 51,000,000 and 118,000,000 colones, the tax will be 127,860 colones so around $228 per year.
• With gross wages superior of 118,000,000 colones, the tax will be 213,100 colones so around $381 per year.
The good news is that you won’t have to pay the whole amount this year as the tax is only applicable in July. (You will have to pay around half).
WHAT IS HAPPENING IF YOU DIDN’T PAY THAT SAME TAX BETWEEN 2012 AND 2015?
Starting in July, you will have three months to pay what you owe. The good thing is that the interests and fines for your late payment will be canceled. So you better take advantage of that amnesty.
If you don’t pay within three years, your corporation will be dissolved. Not the best in case your corporation owns your land or your car….
HOW WILL BE USED ALL THIS CORPORATION TAX MONEY?
Of the 82, 6 million of US Dollars collected, $45 million will be used for our security and safety :
• 90% of it will fund the Public safety and Security ministry.
• 5% of it will fund the Justice and Peace ministry.
• The last 5% will fund the OIJ (equivalent of the FBI).
Contact me if you need help to pay your corporation tax.
I know that doesn’t make you happy, but think about the bright side, the cops will get better uniforms, better shoes, pretty good no?
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